Which are the most visible foreign firms in India? (Freshfields drops 8 in ranking, Davis Polk climbs 10)

Global legal
Global legal
Linklaters, Clifford Chance, Allen & Overy and Baker & McKenzie are the highest profile foreign law firms operating in India, according to the latest analysis of foreign law firms’ India businesses.

Global legal
Global legal

Linklaters, Clifford Chance, Allen & Overy (A&O) and Baker & McKenzie are the highest profile foreign law firms operating in India, according to client mentions and perceptions, as measured by the latest analysis of foreign law firms’ India businesses by London-based RSG Consulting.

Linklaters overtook A&O this year at the top of the overall rankings, which take into account the total mentions by clients, recommendations by clients and the Indian deal volumes of each firm.

RSG’s analysis stated:

Linklaters has returned to the top of the overall ranking, displacing Allen & Overy who came out number one in 2013. Linklaters was overwhelmingly the firm most recommended by clients for having the ‘best reputation’ in India, as well as receiving the most mentions when clients were asked which law firms they had recently instructed.

However**, Clifford Chance, Allen & Overy** and Baker & McKenzie were jointly favoured by Indian law firms when asked which foreign firms they had worked with or recommended.

Herbert Smith Freehills, Baker & McKenzie, DLA Piper and Skadden notably ranked higher for recent instructions relative to the number of mentions they received from clients for the ‘best reputation’ in India, suggesting that these firms, though perhaps less well recognised in the Indian market, have established a strong India practice.

Davis Polk & Wardwell shot ten places up the rankings, receiving the top deals score of all ranked firms, for a number of high value deals in the past year. However, the firm’s India practice is well outside the top ten when it comes to profile amongst clients or Indian law firms.

Which firms do clients say they have instructed recently?

The top six firms clients say they have instructed in the past 12 months were Linklaters, Allen & Overy, Herbert Smith Freehills, Baker & McKenzie, Clifford Chance and White & Case.

The breakdown of mentions by Indian clients compared to foreign clients was relatively balanced for the majority of the top six firms. Only Linklaters and Allen & Overy received a significantly greater percentage of mentions as a firm recently instructed by foreign as opposed to Indian companies. These two firms received over 60% of mentions as a recently instructed firm from foreign clients; White & Case, at the other end of the spectrum received almost 70% of mentions from Indian clients.

Summary of best known amongst Indian law firms

A look at which law firms received the most mentions from Indian law firms throws up a slightly different list with Clifford Chance, Allen & Overy and Baker McKenzie receiving the most mentions from Indian firms. This analysis reveals that all five of the UK Magic Circle firms still hold a strong reputation among Indian firms. Linklaters, Freshfields, Jones Day and Slaughter & May receiving slightly fewer mentions than the above three, but are still front of mind.

White & Case was the only firm in the top 10 to receive no mentions from Indian firm managing partners though it features 6th in the overall rankings and scored highly with clients.

Also read, RSG’s Indian law firm rankings as recently published in Mint.

RSG top 20 foreign law firms in 2015

RSG Ranking 2015RSG Ranking 2013Ranking change 2013-2015FirmCountry of OriginMentions score /30Deal Score /20TOTAL SCORE /50
12+1LinklatersUK261541
=21-1Allen & OveryUK25833
=24+2Herbert Smith FreehillsUK/Australia181533
46+2Baker & McKenzieUS/UK25732
53-2Clifford ChanceUK26531
69+3White & CaseUS131730
717+10Davis Polk & WardwellUS82028
87-1Jones DayUS141226
98-1Slaughter and MayUK91625
1014+4Shearman & SterlingUS81422
=11110DLA PiperUS/UK101020
=1110-1Skadden, Arps, Slate, Meagher & FlomUS101020
135-8Freshfields Bruckhaus DeringerUK15419
1433+19Sullivan & CromwellUS31316
=15150Latham & WatkinsUS7815
=1517+2Norton Rose FulbrightUK10515
=1738+21CMSUK6814
=1725+8Weil, Gotshal & MangesUS31114
1933+14Simmons & SimmonsUK11213
=2022+2Kirkland & EllisUS7411
=20--Morrison & FoersterUS3811

Comments

Guest 20 May 2015, 13:43
+0 -0
It will be interesting to know if there is a breakdown in relation to practise areas as well. For ex., (I would think) FBD and A&O will get a lot of M&A and banking / debt capital markets mandates, respectively, but very few ECM mandates. The breakdown re: Jones Day, Shearman and Skadden, on the other hand, will be completely opposite, generally. Kian, does the RSG research have a practise area breakdown?
Industry Obsever 20 May 2015, 17:26
+2 -2
Alarm bells for Platinum lawyers - Nihar Mody and Karam Daulet Singhs clout over Freshdields India practice is losing importance by the day - Smart and aspiring guys should exit and join a better platform that provides an equity partnership and not a pseudo partner tag - Platinum is best for people who just want to execute all their lives - take money home (apparently 90% of the package is fixed ) - and live a boring, non- exciting, meaningless life!
Platinum 21 May 2015, 08:11
+2 -0
platinun is a good firm, but agree with the earlier comment muchly. Compare them to the model followed by other same firms. Most similar probably TTA. All equity, high salary. SnR has promoters but is also all equity. Khaitan, Cam Sam, AZB all different.

Also relationship with Linklaters and TTA seems to be new marry honeymoon. Freshfields and platinum seem more like 7 year itch.

But all this from outside only. What is inside no one knows.
Real pay package pls stnd up 22 May 2015, 11:09
+0 -0
Say, what is the deal with PP? What is the goddamned pay package bruv? I've been asking on every article ever. Can the real pay package/ range please stand up?
Insider 22 May 2015, 12:00
+0 -0
the pay package is a dream. Mostly fixed and prettty high. So one is leaving PP anytime soon.
Let me help! 22 May 2015, 13:43
+1 -0
Ok let me help you with this- how do i put it across with sounding pretentious- a fresher in PP is paid what an A2 (maybe a couple of grand less) would make at AMSS. Now you can do the math!

Cheers!
Really! 22 May 2015, 09:10
+2 -0
Alarm bells really! You will be amazed to know how many multi-million dollar deals are FBD/PP working toon over the last few months- the hardwork on these deals are now over and you will very soon start hearing the deal announcements. FBD/ PP will sweep the market in terms of deal value for this quarter and maybe this year. You see the fundamental difference between FBD/PP model in India with others is that FBD/PP only work on top quality/ high value deals and not put their fingers in every thing under the sun that why you will notice the FBD/PP will have high deal values but not the deal count. The partnership model you talk about is very well- I am not sure if you are aware that in any of the magic circle or the top US law firms, it takes good 7-9 years to make senior/ managing associate and the partners are thorough with their advise unlike partners in India (not generalizing) who get the tag within 6-8 years but are still reviewing dd report or making first-cut of the documents.

And before I forget- you are absolutely right about taking money hone- we do get enough and then not to forget the extra icing on top (which is all but guaranteed).

PS: no point in guessing that i am from PP! :)
scooterette 23 May 2015, 11:12
+0 -0
HSF is not magic circle - but otherwise I agree with most of the comment.
Huh? 22 May 2015, 11:57
+0 -0
PP didn't give you a job?
Guest 20 May 2015, 22:20
+1 -1
No Latham? That's strange!